Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
does anybody have advice for me on what to do next.
3 1/2 years ago had a loan and a credit card with HSBC was struggling to make the repayments, but had not missed any. HSBC suggested to combine the loan and credit card - we applied, but was refused on two occasions. HSBC then suggested that i go into my local branch and i was told that the only way i would get the loan was to settle the above and take out PPI, which i did. The loan was for £10,000 plus £4000 PPI, a day later i was worried about what i had done, therefore phoned the HSBC to cancel the PPI and was told i couldn't cancel. i continued with regular payments for over a year and after reading in the press regarding missold PPI i phoned HSBC and sent a letter could we cancel the PPI and was told once again we can't. We then called into our local branch on a Saturday morning regarding the loan and PPI and were told that HSBC cannot find the original agreement, therefore they couldn't take the PPI off as they didn't know what the interest rate was on the original loan. We then went to the fos and requested bank charges of £700 and the PPI to be repaid. The responce from FOS was that they would repay all the charges and the PPI and would arrange a managed loan for the remainder of the loan and our £2000 overdraft on what we could afford a month (this was back in January 2009). To this day we have still not heard anything from HSBC regarding this arrangement. In June 2009 we had a letter informing us that our overdraft was being withdrawn. We made an offer of £50.00 a month and we heard nothing. At the end of November we had another letter informing us that our overdraft was being withdrawn on 24th December 2009. We went back to the FOS to find were do we go from here as nothing has been done. In November i phoned HSBC to say that i would have my wages credited to that account, but when the informed me that all my wages would go off our overdraft i decided against it. i am 4 payments behind on my loan, i have not had a phonecall or letter regarding this. today we spoke to HSBC and were told that our overdraft facility hasn't been withdrawn, but has been extened for another year. i have tried to cancel the direct debit for the loan and set up another with a different bank, but have been unable to do so, therefore HSBC are charging us for unpaid direct debit. Where do we stand with this loan now?
does anybody have advice for me on what to do next.
3 1/2 years ago had a loan and a credit card with HSBC was struggling to make the repayments, but had not missed any. HSBC suggested to combine the loan and credit card - we applied, but was refused on two occasions. HSBC then suggested that i go into my local branch and i was told that the only way i would get the loan was to settle the above and take out PPI, which i did. The loan was for £10,000 plus £4000 PPI, a day later i was worried about what i had done, therefore phoned the HSBC to cancel the PPI and was told i couldn't cancel. i continued with regular payments for over a year and after reading in the press regarding missold PPI i phoned HSBC and sent a letter could we cancel the PPI and was told once again we can't. We then called into our local branch on a Saturday morning regarding the loan and PPI and were told that HSBC cannot find the original agreement, therefore they couldn't take the PPI off as they didn't know what the interest rate was on the original loan. We then went to the fos and requested bank charges of £700 and the PPI to be repaid. The responce from FOS was that they would repay all the charges and the PPI and would arrange a managed loan for the remainder of the loan and our £2000 overdraft on what we could afford a month (this was back in January 2009). To this day we have still not heard anything from HSBC regarding this arrangement. In June 2009 we had a letter informing us that our overdraft was being withdrawn. We made an offer of £50.00 a month and we heard nothing. At the end of November we had another letter informing us that our overdraft was being withdrawn on 24th December 2009. We went back to the FOS to find were do we go from here as nothing has been done. In November i phoned HSBC to say that i would have my wages credited to that account, but when the informed me that all my wages would go off our overdraft i decided against it. i am 4 payments behind on my loan, i have not had a phonecall or letter regarding this. today we spoke to HSBC and were told that our overdraft facility hasn't been withdrawn, but has been extened for another year. i have tried to cancel the direct debit for the loan and set up another with a different bank, but have been unable to do so, therefore HSBC are charging us for unpaid direct debit. Where do we stand with this loan now?
There are guys on this site a hell of a lot more informed than I am, but for starters, I'd definitely challenge or kepp challenging that PPI. £4000 for a £10,000 is far too expensive and it sounds as though they have missold it on more ways than one. You should have a cooling off period in which to cancel the agreement, and if they couldn't find the original agreement, it would make more sense to me that they cancel the PPI and refund any payments there and then rather than saying they cannot cancel it. What nonsense!
If a company tried to charge you for a product and they don't have the invoice, you aren't obliged to pay, surely!
As for that regarding the withdraw of facilities, I'm a bit sceptical about. I'm suspicious of something similar regarding my circumstances too. I had no payments going into my account for around 2 months, and they charged me £25 for rearranging the overdraft. 1 week later, my facilities are withdrawn, so in theory I should be able to claim that back. I've paid for something I cannot have. It sounds like they wanted to cancel you facilities, and if you were close to the rearrangement of your overdraft, they saw 'sense' to extend this (even after saying facilities withdrawn) as to get the £25! Then you'll probably notice the bank living up to their word by taking away what they originally said. Gawd, I hate this bank.
I'm going off my own assumptions at the minute, but be patient and I'm sure one of the other helpful regulars can point you in the right direction.
Can someone please advise what to do next we have heard nothing from fos the loan is 4 months behind and we have had no calls or letters from their collection department yet we are being charged £25.00 every month on overdraft fees our local branch has told us they cannot find the credit agreement
HSBC loan / with PPI issues
was struggling to make the repayments, but had not missed any. HSBC suggested to combine the loan and credit card - we applied, but was refused on two occasions. HSBC then suggested that i go into my local branch and i was told that the only way i would get the loan was to settle the above and take out PPI, which i did. The loan was for £10,000 plus £4000 PPI, a day later i was worried about what i had d
one, therefore phoned the HSBC to cancel the PPI and was told i couldn't cancel. i continued with regular payments for over a year and after reading in the press regarding missold PPI i phoned HSBC and sent a letter could we cancel the PPI and was told once again we can't. We then called into our local branch on a Saturday morning regarding the loan and PPI and were told that HSBC cannot find the original agreement, therefore they couldn't take the PPI off as they didn't know what the interest rate was on the original loan. We then went to the fos
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Originally Posted by fellrunner
